A draft circular in this regard will be issued shortly for public comments. 5. Discussion Paper on Scale-based Regulatory Framework for NBFCs The contribution of NBFCs as a supplemental channel of credit intermediation alongside banks is well recognised. Regulatory regime governing the NBFC sect...
The Reserve Bank of India will start imposing penalties on banks in case the ATMs remain out-of-cash for a total period of 10 hours in a month from October 1, 2021, onwards.
Minimum capital adequacy ratio has been kept at 15% for a small finance bank and payment banks. It has been kept at 9% for local area banks and regional rural banks. According to the RBI’s circular, banks must compute dividends on the basis of the “dividend payout ratio”. Dividend p...
2021, we retained government-empaneled Deloitte to perform a supplemental audit to help demonstrate our compliance. We have been in a continued dialogue with the RBI from April through the report’s submission on July 20, 2021,” Mastercard’s statement read. ...
and bears the date and time stamp. Last year, the government had notified amendment to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. As per the circular, the reporting entity should capture a clear image of PAN card to be displayed by the customer during the ...
RBI has removed restrictions in view of the satisfactory compliance demonstrated by AEBC with RBI’s April 2018 circular on “Storage of Payment System Data.” By order dated April 23, 2021, RBI had prohibited AEBC from on-boarding new domestic customers onto its card network from May 1, ...
Earlier this year, Karnataka’s transport departmentissueda circular introducing uniform fares for cab aggregators like Ola and Uber, dividing cab rides into three categories based on the vehicle’s price. 12,000 have joined out of 1.25 lakhs ...
1Ref.: RBI circular DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs 2“Public funds" shall include funds raised either directly or indirectly through public deposits, Comme...
In November 2020, RBI had issued circular to scheduled commercial banks on Co-Lending Model (CLM). The circular was issued with the goal of leveraging banks' and NBFCs' comparative advantages in a collaborative effort in all categories of priority sector lending. ...